Diamond Foods Inc | 2013 | FY | 3

(5) Acquisitions

Proposed Pringles Merger Terminated

On April 5, 2011, Diamond entered into a definitive agreement with The Procter & Gamble Company (“P&G”) to merge P&G’s Pringles business into the Company. On February 15, 2012, Diamond and P&G mutually agreed to terminate the Company’s proposed merger of the Pringles business. No “break-up” fee or other fees were paid to P&G in connection with the termination, which included a mutual release.